Rogue Resources : Q3 FS January 2023

Rogue Resources Inc.

Condensed Consolidated Interim Financial Statements

For the Three and Nine months ended January 31, 2023 and 2022

(Unaudited - expressed in Canadian Dollars)

NOTICE OF NO AUDITOR REVIEW OF INTERIM FINANCIAL STATEMENTS

The accompanying unaudited condensed consolidated interim financial statements of Rogue Resources Inc. ("the Company") for the three and nine months ended January 31, 2023, have been prepared by management and have not been reviewed by the Company's external independent auditors.

2

Rogue Resources Inc.

Condensed Interim Consolidated Financial Statements

For the three and nine months ended January 31, 2023 and 2022

(Unaudited - expressed in Canadian Dollars)

Table of Contents	Page
Condensed Interim Consolidated Statements of Financial Position	4
Condensed Interim Consolidated Statements of Operations and Comprehensive Loss	5
Condensed Interim Consolidated Statements of Changes in Equity	6
Condensed Interim Consolidated Statements of Cash Flows	7
Notes to the Condensed Interim Consolidated Financial Statements	8 - 24

3

Rogue Resources Inc.

Condensed Interim Consolidated Statement of Financial Position (Unaudited - expressed in Canadian Dollars)

		As at January 31, 2023		As at April 30, 2022
ASSETS
Current assets
Cash	$	11,808	$	30,123
Marketable securities	4	-		6,454
Accounts receivable		45,136		176,139
Prepaid expenses		1,328		6,804
Inventory	8	191,687		197,634
Total Current Assets		249,959		417,154
Non-current assets
Investment in associates	5,9	1,361,635		1,709,139
Exploration and evaluation assets	5	1,204,355		1,177,061
Right-of-use assets	6	735,473		959,926
Property, plant and equipment	7	119,321		132,443
Producing assets	7	3,846,269		3,327,709
Total Assets	$	7,517,012	$	7,723,432
LIABILITIES
Current Liabilities
Accounts payable and accrued liabilities	$	841,146	$	819,595
Tax payable		214,186		107,779
Current portion of lease liability	6	252,330		296,435
Due to related parties	16	550,889		364,929
Short term advance	5	356,850		230,000
Loan payable	11	1,790,069		1,795,036
Total Current Liabilities		4,005,470		3,613,774
Non-current liabilities
Vendor mortgages	10	700,000		700,000
Lease liability	6	344,604		530,924
Government assistance loan	12	60,000		60,000
Total Liabilities		5,110,074		4,904,698
EQUITY
Share capital	13	50,404,363		50,388,363
Reserves	13	10,644,835		10,686,123
Accumulated other comprehensive income	4	-		5,530
Non-controlling interest	15	185,497		193,266
Deficit		(58,827,757)		(58,454,549)
Total Equity		2,406,938		2,818,733
Total Liabilities & Equity	$	7,517,012	$	7,723,431

Nature of Operations and Going Concern (Note 1)

Commitments (Note 20)

These consolidated financial statements were approved and authorized for issue by the Board of Directors on March 30,

2023. They are signed on the Company's behalf by:

(Signed) "Sean Samson"	(Signed) "Christopher Wolfenberg"
Director	Director

The accompanying notes are an integral part of these consolidated financial statements.

4

Rogue Resources Inc.

Condensed Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited - expressed in Canadian dollars)

		Three months ended January 31	Nine months ended January 31
	Note		2023		2022		2023		2022
Revenue	1	$	246,977	$	331,548	$	1,245,345	$	1,345,606
Less:
Cost of goods sold			(160,583)		(202,236)		(766,725)		(693,598)
Depreciation and depletion	6,7		(33,910)		(38,924)		(145,773)		(148,755)
Gross Profit			52,484		90,388		332,847		503,253
Expenses:
Compensation and benefits	16		93,024		88,396		265,717		257,930
Consulting fees - related parties	16		1,813		1,063		7,813		9,375
Financing fees	11		-		-		-		3,067
Interest and accretion expense	6,11		72,546		61,696		217,296		201,412
Investor relations, promotion and product marketing			-		396		-		3,570
Office expense and miscellaneous			16,173		16,795		56,408		47,334
Professional fees			54,322		44,854		83,125		114,347
Regulatory and stock transfer fees			3,807		6,368		10,681		13,372
Stock based compensation	13,16		-		1,488		-		19,615
Total Expenses Before Items Below			241,685		221,056		641,040		670,022
Loss Before Other Income and Income Taxes	5		(189,201)		(130,668)		(308,193)		(166,769)
Gain/(Loss) on Property		23,812		-		233,432		275,790
Gain/(Loss) from Investment in Associates	5,9		(20,459)		58,812		(347,504)		(69,032)
Write-off of Exploration and Evaluation Assets			-		(5,659,993)		-		(5,659,993)
Deferred Income Tax Recovery			-		3,594		-		3,594
Net Loss For The Period			(185,848)		(5,728,255)		(422,265)		(5,616,410)
Other Comprehensive Income/(Loss)
Unrealized & realized gain/(loss) on marketable securities	4		-		(6,609)		(5,530)		(6,910)
Comprehensive Loss For The Period		$	(185,848)	$	(5,734,864)	$	(427,795)	$	(5,623,320)
Attributable to:
Non-controlling interest	15		(3,457)		(11,748)		(7,769)		4,297
(Deficit)/Equity shareholders of the Company			(182,391)		(5,723,116)		(420,026)		(5,627,617)
			(185,848)		(5,734,864)		(427,795)		(5,623,320)
Basic and Diluted Income/ (Loss) Per Share	14	$	(0.01)	$	(0.16)	$	(0.01)	$	(0.16)
Weighted Average Number of Shares Outstanding
Basic and diluted	14		35,330,424		35,148,299		35,327,525		35,148,299

The accompanying notes are an integral part of these consolidated financial statements.

5